A path forward for the Chinese economy

Reform of land ownership laws in China would help alleviate urban-rural inequality by allowing farmers to benefit from rising land values (source: dpa)

China’s slower growth has shocked and worried many

The country’s political institutions still have far to go to foster market practices

Many think this could lead to a collapse of its political system, or prolonged economic stagnation

But China has made much institutional progress already, and will now benefit from more incremental reform

After almost four decades of rapid growth and structural transformation, the Chinese economy has entered what the government calls the “new normal.” Last year, China’s gross domestic product (GDP) grew at a rate of 6.9 percent, its lowest in decades. While this figure is still high compared with most other countries, it represents a drastic slowdown that reveals deep weaknesses in the world’s second largest economy

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